Bitcoin: Is there a significant pullback about to happen?

16 thg 4, 2021

After a lovely uptrend, price looks to found itself on at the resistance line of a Bullish Wedge. Naturally, I expect price to head down to the support line of the pattern. Also, the PA shows price has broken structure, and is now retesting the previous lows on the HL levels. I would expect sellers to step in once price reaches between the 50 fib and 618 fib levels A trip down to the support line of the wedge is where I expect price to go.
Could it break to the upside? Sure. Highly likely? Not in my experience. Not with this PA.

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17 thg 4, 2021

Ghi chú

This is going exactly as I described in the video. Look for price to touch the support line of the Rising Wedge.
We'll reassess there.

17 thg 4, 2021

Ghi chú

BTCUSD: Price is making its way slowly to my area of concern. That could be the spot to take longs just in time for the big push up to new ATHs. Just keep in mind price is in a bearish structure (Rising Wedge). THe support may crack in drop price. We'll monitor how price responds to that level when we get there.